Bank Pictet & Cie Europe AG Acquires 55 Shares of Parker-Hannifin Co. (NYSE:PH)

Bank Pictet & Cie Europe AG raised its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,259 shares of the industrial products company’s stock after acquiring an additional 55 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Parker-Hannifin were worth $4,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. West Branch Capital LLC purchased a new position in shares of Parker-Hannifin during the 3rd quarter worth $25,000. Prestige Wealth Management Group LLC boosted its stake in shares of Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin during the 4th quarter worth $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Parker-Hannifin during the 3rd quarter worth $39,000. Finally, Hager Investment Management Services LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter worth $44,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $700.13 on Friday. The company’s 50-day moving average price is $664.39 and its 200-day moving average price is $638.17. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a market cap of $90.12 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. On average, equities research analysts forecast that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be issued a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.93%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PH. Truist Financial lifted their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research note on Thursday, December 12th. TD Cowen lifted their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus lifted their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus price target of $729.18.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.